This paper investigates the income inequality generated by a job search process when different cohorts of homogeneous workers are allowed to have different degrees of impatience. Using the fact the average wage under the invariant Markovian distribution is a decreasing function of the time...

In this paper I devise a new channel by means of which the (empirically documented) positive correlation between inflation and income inequality can be understood. Available empirical evidence reveals that inflation increases wage dispersion. For this reason, the higher the inflation rate, the...